Benchmark indices Sensex and Nifty opened lower on Monday, July 20, 2026, pressured by heavy selling in HDFC Bank shares and a sharp increase in crude oil prices linked to heightened tensions between the United States and Iran.
The BSE Sensex dropped 523.22 points to 77,628.23 in early trading. The NSE Nifty fell 134.10 points to 24,198.25.
Within the Sensex constituents, Axis Bank and HDFC Bank each declined close to 5 percent following their quarterly results released over the weekend. Analyst V.K. Vijayakumar of Geojit Investments Limited noted disappointment with HDFC Bank’s net interest margin performance.
Other notable decliners included Kotak Mahindra Bank, InterGlobe Aviation, Maruti Suzuki and Bajaj Finance. Gainers comprised Bharti Airtel, Tech Mahindra, NTPC, Reliance Industries and ICICI Bank.
Reliance Industries advanced nearly 1 percent after posting record quarterly core profit and EBITDA, supported by strength in its oil-to-chemicals and telecom segments.
Brent crude rose 2.41 percent to $90.22 per barrel. Vijayakumar highlighted near-term risks from elevated oil prices and potential effects on the rupee and foreign portfolio flows, while noting that reduced momentum in artificial intelligence-related stocks abroad could benefit Indian markets.
In Asia, Shanghai’s SSE Composite and Hong Kong’s Hang Seng indices traded higher, whereas South Korea’s KOSPI fell 4.35 percent. U.S. markets closed lower on Friday, July 17. Foreign institutional investors sold Indian equities worth 376.41 crore rupees that day.
On Friday the Sensex had risen 964.58 points to close at 78,151.45, while the Nifty gained 261.55 points to finish at 24,334.30.
